What is the name clause in the memorandum of association? Describe the procedure for alteration of the name. What are the effects of change of name?
Understand the Problem
The question is asking about the name clause in the memorandum of association and the procedure for altering a name, including the effects of such a change. It requires a detailed explanation and discussion.
Answer
Name clause specifies the company's name. Alteration requires a special resolution, government approval, and registration. The old name is abolished, and the new name is official upon registration.
The name clause is the part of the Memorandum of Association that specifies the company's official name. Alteration requires a special resolution, government approval, and registration. The change is official upon registration, and the old name is abolished.
Answer for screen readers
The name clause is the part of the Memorandum of Association that specifies the company's official name. Alteration requires a special resolution, government approval, and registration. The change is official upon registration, and the old name is abolished.
More Information
The name clause ensures legal identity in corporate dealings, and the alteration process secures compliance and transparency. Approval from authorities prevents fraudulent duplications.
Tips
Ensure that the new name does not conflict with existing companies to avoid rejection.
Sources
- Alteration in Name Clause of MOA - EAdvisors - eadvisors.in
- Alteration of Memorandum of Association - iPleaders - blog.ipleaders.in
- Procedure - Change / Alteration Of Name Under Companies Act 2013 - kmgcollp.com
